Idaho has set the maximum homeowner's exemption from property tax for next year: It will decline from the current $83,974 to $81,000. “The decrease is smaller than last year’s,” said Alan Dornfest, property tax policy supervisor for the Tax Commission. “This reflects the fact that housing prices trended downward, but at a slower pace than last year.”
The exemption, which is for 50 percent of the assessed value up to the maximum amount, was $50,000 from 1983 to 2006, when it was increased to $75,000 and tied to housing prices. That caused it to hit a high of $104,471 in 2009, after the state's housing prices soared, but to decline back down as prices collapsed.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
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